Logical Reasoning Question 8
Question; Direction; Study the following passage carefully and answer the questions given below:
The Banking industry in India plays an important role in the financial system as it provides financial assistance to industrial sector, agricultural sector and household sector. The banking industry contributes to the economical growth of the country as they are the major credit creators of the nation. During the recent time, the banking industry has seen significant development and large investments. The Reserve Bank of India (RBI) is the central bank of India, it regulates, controls and monitors other banks in India. Banks are classified into commercial banks, private sector banks, public sector banks, foreign banks and cooperative banks. Technological advancements have improvised the banking sector. Banking sector provide wide variety of financial services which increases the productivity of the economy. Due to increase in competition, the private sector banks are also trying to improve their performance and increase their profitability position. What is the conclusion of the author regarding the role of banking industries in economic development?
Options:
A) Healthy competition between the banks and government agencies
B) Financial assistance from the government for the banking programs
C) Credit creation by public banks for government programs
D) Financial services provided by banks and government agencies
Show Answer
Answer:
Correct Answer; C
Solution:
- (c)
- Deductive reasoning is a logical process where conclusions are drawn from premises that are known or assumed to be true.
- Conclusion
- Object and Function Analogy The banking industry contributes to the economical growth of the country as they are the major credit creators of the nation. During the recent time, the banking industry has seen significant development and large investments.
BETA
